Crypto Glossary

Hello Myners! We’re back with a new list of terms to learn from the crypto vocabulary.

Minting

Crypto minting is the process of creating new coins on the blockchain by using computation to validate data, build new blocks, and store data there.

Typically, the Proof-of-Stake (PoS) consensus process is used for cryptocurrency minting.

Metadata

Metadata, to put it simply, is a collection of data that describes other data.

The name, total supply, and transaction history of your NFT can all be described in its metadata. Understanding how to read an NFT’s information will assist holders in better comprehending what they are truly buying. Metadata is a crucial part of every NFT.

Fractional ownership

An investment strategy called fractional ownership enables the cost of an asset to be divided among various shareholders. These shareholders split the asset’s advantages, including usage rights, income sharing, first access, and discounted prices. The advantages fractional owners enjoy are on par with those of timeshare owners.

About us:

NFT Labs is a web3 company exploring big ideas in community, utility and engagement to push the crypto, NFT and metaverse space forward. To learn how your organization can participate in the web3 revolution, write to us at hello@itsmyne.club.

We’re backed by leading blockchain institutions including Longhash Ventures, Antler, Oracles Investment Group, and Shima Capital among others. NFT Labs is also the issuer of the MYNE token ($MYNE), a BEP-20 utility token for Itsmyne and partner applications. MYNE serves as the gateway between traditional social media and blockchain-based social economies.